Daimler renamed Mercedes-Benz Group for renewed focus on car business
Daimler AG, the firm behind Mercedes-Benz cars and commercial vehicles, has now been renamed the Mercedes-Benz Group AG. This comes after the company spun off its commercial business as a separate listed entity named Daimler Truck. Alongside the main car business, Daimler Mobility AG, the financial services arm of the company has also been renamed Mercedes-Benz Mobility AG.
This change comes on the back of Mercedes-Benz laying down a comprehensive EV plan which focuses on significantly expanding the brand's capabilities in this new technology. The company says this revised operational structure will help it focus more strongly on its car brands, namely Mercedes-Benz, Mercedes-AMG, Mercedes-Maybach and Mercedes-EQ. The group will also handle Mercedes' van offerings.
This change also brings an end to the Daimler name remaining active in the automotive world. Carl Benz and Gottlieb Daimler invented the automobile independently of each other in 1886 as Benz and Cie. and Daimler Motoren Gesellschaft respectively, but later merged both enterprises to form Daimler-Benz in 1926. The company remained in this form until 1998 when it acquired Chrysler Corporation and rebranded to DaimlerChrysler. With the sale of Chrysler to a private equity firm in 2007 before it was acquired by Fiat, the current Daimler AG came into being. The firm is currently the world's sixth-largest carmaker.
Ola Källenius, chairman of the Mercedes-Benz Group AG board said of this development, "The renaming to Mercedes-Benz Group AG underlines our renewed strategic focus. In doing so, we want to make clear where we see the core of our company building the most desirable cars in the world. The Mercedes star has always been a promise for the future: Changing the present in order to improve it. We want to continue this legacy of our founders by taking the lead in electric mobility and vehicle software."
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